HTC has always created entry-level smartphones for emerging markets, but the company last year said that it wanted to switch a large part of its focus to creating high-end devices. As such, it introduced the "One" line of smartphones, that eventually launched around the world. Now, facing staunch competition from the likes of ZTE and Huawei in China, HTC thinks it's time to re-focus its energy on emerging markets.

Reuters confirmed the firm will work on new budget-friendly handsets that will appeal to a wider audience in markets such as China, especially as it's predicting its revenue this quarter could be as much as 17 percent below the last quarter's. 

HTC CFO Chang Chia-Lin said that the company won't price its phones "too low" however. "We're going to go down, but not below 1,000," yuan he noted. "We see there's still room to play." 1,000 yuan comes out to about $160 U.S. dollars.

We think it's a wise move on HTC's part, especially since it's struggling to keep up with Apple and Samsung in the high-end smartphone market. That doesn't mean the company isn't putting out stellar handsets — it absolutely is — but consumer hype seems to be focused around the iPhone 5 and the Galaxy S III.